Fit for purpose?

Rosie Cresswell

18 December 2018

The partnership is the pinnacle of the traditional law firm pyramid, but as lateral hires become more frequent, and millennials show a lack of interest in the partner role, Fernando Peláez-Pier led a discussion that asked whether it’s time for a rethink.

The discussion was led by Fernando Peláez-Pier

Law firms are racing to be part of new areas of law like technology and anti-corruption, but it’s easier said than done. Practice areas are so new and fast-changing that few people in firms know enough about them to train up lawyers, let alone serve clients. There are two options: take the time to build the area internally and accept you may not be first to offer the service unless you have the foresight to start well ahead of the pack, or bring someone in from the outside.

Gain greater understanding of your clients and how the market has changed.